Cumberland Partners Ltd Sells 400 Shares of Target Co. (NYSE:TGT)

Cumberland Partners Ltd cut its stake in shares of Target Co. (NYSE:TGT) by 4.3% during the 4th quarter, Holdings Channel reports. The fund owned 8,850 shares of the retailer’s stock after selling 400 shares during the period. Cumberland Partners Ltd’s holdings in Target were worth $1,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TGT. Tower View Wealth Management LLC boosted its stake in Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after acquiring an additional 106 shares in the last quarter. Rakuten Securities Inc. bought a new position in Target during the fourth quarter worth $29,000. Impact Partnership Wealth LLC lifted its stake in shares of Target by 106.6% in the third quarter. Impact Partnership Wealth LLC now owns 405 shares of the retailer’s stock valued at $45,000 after buying an additional 209 shares in the last quarter. Friedenthal Financial bought a new position in shares of Target in the fourth quarter valued at $45,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Target in the fourth quarter valued at $49,000. 79.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TGT. DA Davidson raised their price objective on shares of Target from $167.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Gordon Haskett raised their price objective on shares of Target from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Bank of America raised their price target on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. TheStreet raised shares of Target from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. Finally, Guggenheim raised their price target on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.85.

Target Price Performance

NYSE:TGT traded down $0.38 during mid-day trading on Wednesday, hitting $166.13. 1,454,311 shares of the stock traded hands, compared to its average volume of 3,707,211. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a market cap of $76.70 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 1.11. The business’s 50-day moving average price is $164.45 and its 200 day moving average price is $142.30.

Target (NYSE:TGT) last announced its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The business had revenue of $31.47 billion during the quarter, compared to analyst estimates of $31.83 billion. During the same period in the previous year, the business posted $1.89 earnings per share. Target’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts expect that Target Co. will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $4.40 annualized dividend and a yield of 2.65%. Target’s payout ratio is presently 49.27%.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the sale, the insider now directly owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at $58,115,870.88. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock worth $8,819,598 over the last three months. 0.23% of the stock is owned by insiders.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.